Dakota Wealth Management Boosts Position in Canadian Natural Resources Limited (NYSE:CNQ)

Dakota Wealth Management increased its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,107 shares of the oil and gas producer’s stock after acquiring an additional 13,518 shares during the quarter. Dakota Wealth Management’s holdings in Canadian Natural Resources were worth $5,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. TD Asset Management Inc boosted its stake in shares of Canadian Natural Resources by 96.2% during the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock valued at $1,514,190,000 after purchasing an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Canadian Natural Resources by 93.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after acquiring an additional 19,980,902 shares during the period. 1832 Asset Management L.P. raised its position in shares of Canadian Natural Resources by 105.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after acquiring an additional 16,245,046 shares in the last quarter. Yacktman Asset Management LP grew its stake in Canadian Natural Resources by 95.9% in the second quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock worth $1,048,660,000 after purchasing an additional 14,418,835 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Canadian Natural Resources by 90.3% during the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after acquiring an additional 14,246,978 shares during the period. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Wolfe Research started coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $35.54 on Friday. The firm has a fifty day simple moving average of $34.94 and a two-hundred day simple moving average of $36.05. The firm has a market cap of $75.63 billion, a PE ratio of 14.16 and a beta of 1.50. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The company had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $6.19 billion. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. During the same quarter in the prior year, the company earned $0.43 earnings per share. On average, equities analysts anticipate that Canadian Natural Resources Limited will post 2.5 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.37%. Canadian Natural Resources’s payout ratio is presently 66.14%.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).